The Week in Review:
Mortgage interest rates pushed higher last week as the debt ceiling deadline approaches.
What to Expect:
Once again this week the debt ceiling issue will be the main driver of mortgage rates. Several scheduled economic reports will not be released because of the ongoing government shutdown.
At this point, multiple outcomes are possible before the October 17th deadline. As a result, we suggest locking in and not taking the risk of a sharp increase in rates. Mortgage rates are still much lower than they were at the beginning of September – take advantage of it.
For transactions closing in:
Next 30 Days: Lock
Next 30+ Days: Lock
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